Toyota, Honda, Shell and Total are among the 13 transportation, energy and industrial giants pledging to invest $1.5 billion a year in hydrogen and fuel cell products.

The Hydrogen Council, which met for the first time today in Davos, is “determined to position hydrogen among the key solutions of the energy transition,” according to a statement. The group says it will lobby policy makers and businesses to back hydrogen as a clean-energy source.

Toyota, which along with Air Liquide co-chairs the group, has said hydrogen fuel cell vehicles will play a major role in helping it achieve its goal to eliminate almost all of its carbon emissions — from its new vehicles, production and plants — by 2050.

Also at the World Economic Forum forum, Walmart, Cargill and Bunge are among the world’s largest commodity producers, traders, manufacturers, consultants and retailers that have launched a new partnership to monitor deforestation.

Globally, 366 companies worth $2.9 trillion have committed to eliminate deforestation from their supply chains, but according to the World Resources Institute, which is leading the project, these companies need better information to make good on their commitments.

The tool will build on the technology and methods developed by WRI on the Global Forest Watch Commodities platform, which currently allows companies to evaluate supply chain risk through high-resolution maps of tree cover loss, near-real-time deforestation and fire alerts, and analysis of individual mills and farms.

“Walmart aspires to preserve natural resources through conservation and restoration, working with suppliers, industry forums, nonprofit organizations, farmers and governments through business and philanthropic initiatives,” said Kathleen McLaughlin, senior vice president and chief sustainability officer for Walmart. “We have committed to sourcing 20 commodities more sustainably and are resolved to achieve zero net deforestation by 2020 in palm, beef, soy and pulp/paper. The development of innovations and technologies like the Global Forest Watch Commodities tool can help us and others achieve such goals.”

Deforestation presents a major risk to businesses — as much as $906 billion total annual turnover, according to CDP — especially those with large agricultural supply chains, and investors are increasingly aware of risks to their portfolios. Four commodities, palm oil, wood, cattle and soy, are responsible for 40 percent of deforestation, which can present legal and reputational risks for companies if they source commodities from protected areas or land with disputed ownership.